When we first started writing this Blog in 2011, few ever considered economic warfare. When we pointed out Vladimir Putin’s threats against the dollar, few paid attention. When we explained the risk of EMP, few cared to listen. When we stated that World War 3 could be around the corner, few understood. But, over the past weeks we have seen a slow recognition of these realities. The unfortunate thing is that this recognition is only beginning. And the threat is escalating quickly.
Here are some of the headlines and excerpts from four critical articles over the past week. The first from Ambrose Evans-Pritchard explains the reality of economic warfare:
We have been saying for years that there is a global economic war underway. We have warned that Putin has long intended to attack America with a particular obsession with the reserve currency status of the United States’ dollar. Now, Voice of Russia states that it is time for the attack on the dollar to commence. This is a departure from the previous message on March 28 which stated:
“Russia is fully in control of the petrodollar and could cause the Dow Jones industrial average to plummet as it has never done before. One can wave the Stars and Stripes as long as one likes, but it’s a fact that the Russians can turn the US economy upside down . . . So far, Moscow has been in no rush to resort to extreme measures. Russia is going to react in a mirror-like way . . .”
Lately, China has led the BRICS efforts to dislodge the dollar from its position as the main global currency, but the “sanctions war” between Washington and Moscow gave an impetus to the long-awaited scheme to launch the petroruble and switch all Russian energy exports away from the US currency . Continue reading
by KEVIN D. FREEMAN on NOVEMBER 22, 2013
by KEVIN D. FREEMAN on NOVEMBER 13, 2013 Continue reading
The chatter against the dollar as global reserve currency has ramped up in recent days. The risks are huge and largely ignored. Even allies are questioning how long the dollar can sustain its status in light of our enormous debt and deficit. Now, with the government shutdown in place and a political battle over the debt ceiling, our enemies are looking at the possibility of an attack on our currency during the confusion.
Sadly, too many believe that our dollar will remain permanently strong. Of course, these are in many cases the same people who would argue that deficits don’t matter and that the Treasury could mint $1 trillion platinum coins, essentially making up money out of thin air, and no one would complain. They are living in a fantasy world, emboldened by doctored government statistics that attempt to show there is no inflation in the system. Continue reading
While there should be concern for the environment, politicians and regulators have preyed on the good will of the people with malevolent intent. Who doesn’t want to protect the environment? That’s precisely why it’s easy for naive people to fall into this trap of supporting these measures and the politicians/lawmakers that propose/implement them. Well intended people are unwittingly creating the rope they are hanging themselves with, yet are confused about part of the economy’s root problem. What’s more, the bigger picture is economic warfare leading to a crippled nation.
In mid-August, we raised the question as to whether or not environmental rules could be used as economic weapons. In actuality, the question is rhetorical and provocative. While most Americans have never thought in these terms, the answer is really quite obvious. Of course environmental rules are weapons of economic warfare, especially in a free society where the loudest voice often sets policy. In this context, money determines the loudest voice. No one doubts that polluters will use the political process to allow them the opportunity to continue to profit from their pollution. For some reason, however, few are willing to question whether or not there might be a profit motive somewhere behind the environmental movement.
Full article: Can Environmental Rules be Secret Weapons? (Part 2) (Kevin D. Freeman | Global Economic Warfare)
See also: Can Environmental Rules be Secret Weapons? (Kevin D. Freeman | Global Economic Warfare)
An excellent and well-sourced article by Kevin D. Freeman. Click the link for the full story.
There is a story out today about how Standard Chartered allegedly hid $250 billion in 60,000 transactions with Iran that could have been used to fund nuclear development or even terror activities. This story, if true, blows away the arguments that no one would work against U.S. interests in the financial realm. The size and volume of the transactions is extraordinary. And, the investigation uncovered an attitude that is clearly against American interests. If all of this is true, we hope that it will wake up regulators to even more serious vulnerabilities in our system. Remember, we documented how a single one billion transaction roiled our Treasury markets a little over a year ago. These transactions total a quarter-trillion dollars!
We have pointed out the extraordinary arrogance contained in the idea that the world’s financial system is U.S. centric. In fact, in our previous post on this subject, Our Paper or Their Oil, we said the following:
A high-stakes drama is playing out now between the United States and Iran. On this blog, in our book Secret Weapon, in speeches and media interviews, we have been warning about the reality of global economic warfare. For several years, our government has ignored this reality. The good news is that just recently the government has begun to recognize economic weaponry. The bad news is that the government has approached the subject with typical American arrogance. The worse news is that we may all be hurt as a result.
The news from Standard Chartered, a British-based multinational bank operating in 70 countries, provides a decent proxy of world opinion. The primary reason that the world continues to deal with Iran is that they have Oil. We are fighting with paper. Here is a telling quote from the CNBC story:
Regulators, quoting a New York bank branch officer, said the group director replied: “You f—ing Americans. Who are you to tell us, the rest of the world, that we’re not going to deal with Iranians.”
Here are important quotes from the New York Times story:
The bank “left the U.S. financial system vulnerable to terrorists, weapons dealers, drug kingpins and corrupt regimes,” the agency said in an order sent to the bank Monday …
The department accused the bank of undermining the safety of New York’s financial system through a range of violations including “falsifying business records” and “obstructing governmental administration,” according to the order.
Suspecting that Iranian banks were using their financial institutions to finance its nuclear weapons program, the United States Treasury Department banned certain transactions between Iranian banks and United States financial institutions in 2008.
Make no mistake, this is a global economic war. The international financial system is not serving American interests and as we have proven can be used as a weapon in the global economic war (seewww.SecretWeapon.org). Sadly, this is a shock to most Americans.
Full article: Standard Chartered Takes Sides with $250 billion against America? (Kevin D. Freeman)